FASB proposed taxonomy improvements for the proposed Accounting Standards Update related to effective date for topic 944 on accounting for long-duration contracts. Also being proposed are the taxonomy improvements for the proposed Accounting Standards Update on accounting for convertible instruments and contacts in an entity's own equity related to subtopics 470-20 on debt with conversion and other options and 815-40 on derivatives and hedging. The comment period on the proposed taxonomy improvements related to topic 944 ends on September 20, 2019 while the comment period on the taxonomy improvements related to subtopics 470-20 and 815-40 ends on October 14, 2019.
- Notification (PDF)
- Release Notes for Topic 944 (PDF)
- Release Notes for Subtopics 470-20 and 815-40 (PDF)
Comment Due Date: September 20, 2019 (topic 944)/October 14, 2019 (subtopics 470-20 and 815-40)
Keywords: Americas, US, Banking, Insurance, Securities, Accounting, Derivatives and Hedging, Taxonomy, Reporting, Topic 815, Topic 944, Insurance Contracts, FASB
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.
The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.
The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),
The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances
The U.S. Securities and Exchange Commission (SEC) looks set to intensify focus on crypto-assets and cyber risk and extended the comment period on the proposed rules to enhance and standardize climate-related disclosures for investors.
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility and issued an update on the operational preparedness for zero and negative market interest rates.
The Commission for the Financial Market (CMF) in Chile published capital adequacy ratios (as of February 2022, January 2022, and December 2021) for 17 banks and for the banking system.
The Prudential Regulation Authority (PRA) issued a statement on the European Banking Authority (EBA) guidelines on management of non-performing exposures (NPEs) and forborne exposures.